UPDATE: Morgan Stanley Initiates Coverage on Envision Healthcare Holdings with Overweight Rating, $33 PT on Reform Pure Play

In a report published Monday, Morgan Stanley analyst Andrew Schenker initiated coverage on

with an Overweight rating and $33.00 price target. In the report, Morgan Stanley noted, “We are initiating coverage of EVHC at Overweight with a $33 price target. EVHC is one of the purest plays on healthcare reform, benefiting from the decline in the uninsured for its emergency department (EmCare) and ambulance (AMR) services without the related reimbursement risk.” Envision Healthcare Holdings closed on Friday at $26.84.